Analysts: Current trading enthusiasm in the crypto market is lower than at the bottom of the last bear market.

CoinFeed reported on May 18th that on-chain analyst Yu Jin published an article on the X platform stating that current market trading enthusiasm is lower than at the bottom of the last bear market (December 2022), and the prices of several major cryptocurrencies are actually far higher than at that time. Regarding BTC, at the bottom of the last cycle, the average daily trading volume of Binance BTC/USDT was approximately $2 billion, while currently it is only about $500 million; the current price is 4.5 times that of the previous bottom, with the previous correction ranging from -75% to -38% from the current high. Based on the same magnitude, the estimated bottom for this cycle is approximately $31,000. Regarding ETH, at the bottom of the last cycle, the average daily trading volume was approximately $400 million, while currently it is about $200 million; the current price is 1.7 times that of the previous bottom, with the previous correction ranging from -75% to -54% from the current low. The estimated bottom is approximately $1150.